EXERCISE 1. Nguyen Bich Fitness Club has provided the following information that relates to their financial year ended June 30‚ 2011 Account | Amount ($) | Nguyen Bich - Capital | 350‚000 | Bank Loan – due in October‚ 2012 | 5‚000 | Accounts Payable | 17‚250 | Accounts Receivable | 41‚560 | Cash | 18‚750 | Retained Profits | 76‚000 | Salaries payable | 6‚750 | Supplies | 1‚040 | Salaries Expense | 19‚100 | Buildings | 85‚000 | Prepaid Rent | 15‚600 | Motor Vehicles
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Individual Assignment Introduction to Financial Accounting (ACC106) Mega Lawa Trading is a sole proprietorship business owned by Milah Mela. Transactions below are the business activities for the month of December 2013. Date Transaction Effects of Transaction Principles of Double Entry 1 Started a business with a cash at bank for RM 15‚000 and cash in hand for RM 10‚000 3 Purchased machinery on credit from Happy Machine Supplies amounted to RM 90‚000 4 Bought inventories
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Unit 31 1. Explain how communication can affect relationships in Health and Social care settings. Communication in the work setting can lead to a number of things including a sense of anxiety or avoid being isolation. When you are working in a team and especially if it is in a company‚ you need to be a good team player and to get along with all members of clients no matter whether you like or not‚ If you don’t communicate well they limit their ability to connect on any meaningful level and that
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SHC 31 1.1 People communicate in order to give and receive information and instructions. Communication helps to establish and maintain relationships with others. People communicate to socialise with others‚ to share opinions‚ knowledge‚ feelings‚ emotions‚ to give encouragement and to show others that they are valued. People communicate to express their needs and to help others. 1.2 In order to work effectively with children‚ young people and their families‚ and so that we can plan for and
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Imperial Luxurious is a business providing marketing design services. On 1 March 2011 the following balances were extracted from the books: £ Capital 150 000 Premises 120 000 Fixtures and fittings 24 000 Provisions for depreciation on: premises 5 000 fixtures and fittings 6 000 Debtors 17 500 Creditors 8 500 Bank 8 000 For the month of March the following summarised transactions occurred: • Credit sales of £28 000 were invoiced to customers
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Consultant of the company‚ you have been instructed by the Managing Director to conduct a review on the company’s performance and to recommend improvements to meet the challenges of the rapid changing business environment. Your mission will cover the following tasks. Task 1 1.1 Select s small business enterprise (a private firm or a published-listed company based in Singapore). You are required to access to the following information and describe the business profile of the selected company‚ based on the
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Mariah Carey and James Packer will never get married‚ says Wendy Williams US chat show host Wendy Williams has made a shocking statement about Mariah Carey and her possible wedding with James packer. She said that she does not think the two will ever walk down the aisle. Williams made the statement on her program past week and it was like she was throwing some major shade at the songstress‚ reports Inquisitr. Talking about Carey‚ she said that the songstress is cute and pretty but then raised doubts
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Why are accounts important To begin by why accounts are important‚ a person should first know what accounts actually mean. Accounts are financial records of an organization that register all financial transactions‚ and must be kept at its principal office or place of business. The purpose of these records is to enable anyone to appraise the organization’s current financial position with reasonable accuracy. Firms present their annual accounts in two main parts: the balance sheet‚ and the income
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Problems P1-1 (Page 27) Merideth Harper has invested $25‚000 in Southwest Development Company. The firm has recently declared backruptcy and has $60‚000 in unpaid debts. Explain the nature of payments‚ if any‚ by Ms. Harper in each of the following situations a. Southwest Development Company is a sole proprietorship owned by Ms. Harper. b. Southwest Development Company is a 50-50 partnership of Ms. Harper and Christopher Black. c. Southwest Development Company is a corporation. P1-3 (Page 27) a. It
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investment Both current and non-current assets are recorded on the balance sheet Differences Current assets are intended for consumption of sale realised during a year Current assets is used for trading or transactions Current assest have direct results of the profit gained in the business such as bank balance Non-current assets are used for a longer duration (12 months) Non-current assets used for productive investment purposes Has very low impact of the profit gained as it only deals with things
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